Gold rules steady, silver declines

Gold prices ruled steady today in a largely quiet trade at the bullion market here on muted demand from jewellers and investors as well as lack of local buying interest.
Silver cracked below the Rs 40,000-mark by falling Rs 345 per kg owing to lack of industrial buying support.
Standard gold (99.5 purity) closed its overnight level at Rs 27,350 per 10 grams.
Pure gold (99.9 purity) also settled at its previous level of Rs 27,500 per 10 grams.
Silver (.999 fineness) fell by Rs 345 to conclude at Rs 39,855 per kg as against Rs 40,200 previously.
(The level that has not been seen since May 24, 2016).

Globally, gold steadied, but held near a 10-1/2 month low due to the higher dollar after the US Federal Reserve this week signalled rates could be raised three times next year -- one more than forecast at its September meeting.
Spot gold was up 0.5 percent at USD 1,134.46 an ounce in early trade.
Silver gained 0.8 percent at USD 16.08 an ounce, after falling more than 5 percent yesterday.